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NFL Finance Committee recommends approval of sale of Denver Broncos to Rob Walton

Vincent Frank

Rob Walton is one step closer to officially becoming the next Denver Broncos owner. On Wednesday, the NFL Finance Committee recommended to approve the sale of the Broncos from the Pat Bowlen trust to a group led by Walton and former Walmart chairman Greg Penner for $4.65 billion.

“We appreciate the diligence and hard work of the National Football League’s Finance Committee with its recommendation to approve our purchase of the Denver Broncos. Today’s vote marks an important milestone, and we are excited for the next step involving all of the league’s owners.”

Statement from Rob Walton

Owners will now meet on Aug. 9 to offically approve the sale and make it final. There’s no reason to believe there’s going to be an issues on that front. A total of 24 of the league’s 32 owners need to vote yes to approve the deal.

Related: Denver Broncos’ Rob Walton and NFL’s richest owners

Denver Broncos will be under new ownership Week 1

NFL: Detroit Lions at Denver Broncos
Ron Chenoy-USA TODAY Sports

Once Denver opens the season September 12 against the Seattle Seahawks, the Walton-Penner ownership group will be in full control.

The 77-year-old Walton is the heir to Walmart and is said to be worth a whopping $62 billion. It makes him the 18th-richest person in the world. He held the role of chairman of Walmart for 23 yars after the death of his father, Sam.

As for Penner, he’s the founder of an investment firm called Madrone Capital Partners. He currently sits on the board of Baidu, eHarmony, Hyatt Hotels and Teach for America in addition to his former work with Walmart.

Mellody Hobson’s inclusion in the likely new Denver Broncos ownership group was somewhat of a surprise. The 53-year-old previously served as the chairwoman for Dreamworks Animation before her roles with Ariel Investments and Starbucks.

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Married to legendary filmmaker George Lucas, she became the first black woman to be the chairperson of an S&P 500 company when she took over that role at Starbucks back in December of 2020. Hobson is said to have a net worth of roughly $16.8 billion.

The $4.65 billion sale of these Broncos represents the largest figure in the history of the National Football League.